ONEOK Inc (OKE) News & EventsOKENews & EventsONEOK Inc

ONEOK Acquires Brazos Midstream Assets for $4.425B

ONEOK (OKE) announced that it has executed a definitive agreement to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for total cash consideration of $4.425B. The acquisition will be funded through a $9B nonvoting minority equity investment from funds and affiliates managed by Apollo (APO). ONEOK intends to use $5B of proceeds from the equity investment to reduce ONEOK's existing indebtedness. "This transaction demonstrates ONEOK's strategy of intentionally expanding and extending our integrated energy infrastructure," said Pierce Norton II, ONEOK president and CEO. "These assets add a premier Permian Midland Basin platform supported by long-term contracts and attractive growth opportunities.

Oneok Raises FY26 Net Income Guidance to $3.41B-$3.79B

Oneok increased FY26 net income guidance to a range of $3.41B-$3.79B. Adjusted EBITDA guidance increased to a range of $8.2B-$8.5B. Total FY26 capital expenditure guidance remains unchanged at approximately $2.7B-$3.2B.

ONEOK Reports Q2 Revenue of $12.05B, Beating Expectations

Reports Q2 revenue $12.05B, consensus $8.95B. "Higher volumes across ONEOK's businesses, including record NGL volumes, drove another consecutive quarter of earnings growth," said CEO Pierce Norton II. "These results reflect the strength of our integrated system, the dedication of our employees and our ability to optimize our network and capture opportunities across the value chain. Several strategic growth projects across our footprint are nearing completion, expanding connectivity across key markets and strengthening our ability to serve customers and communities. Combined with strong market fundamentals across our business, these investments build momentum into the second half of 2026, support our second guidance increase this year and reinforce our ability to deliver long-term value to stakeholders."